Basics: Bitcoin and Apple Pay Comparison

Like most people, you might consider going online to pay for all of your products and services. The online world gives you access to options and opportunities that you cannot find elsewhere. Two examples are Bitcoin and Apple Pay. Bitcoin has existed for a while now, but Apple Pay has just recently made its way to the stage. It has received a large amount of attention, positive and negative, but it is still a popular online payment option for many Apple users. The same applies to Bitcoin. Through all of the mixed attention, it has stayed strong for people who like paying for things online.

Apple Pay

Apple Pay is a new option on the market. It is an online wallet, essentially. You store currency in it and use it to pay for what you buy online. If you purchase something from a store that allows payments through Apple Pay, you will just have to click a few buttons and you are done. It is similar to existing options, such as Paypal and Google Wallet. If you have used either in the past, you will know what to expect from the new Apple Pay.

The big difference is that it is popularizing NFC, a way to swipe your phone against pads in stores and around cities to pay for goods or services. It has existed for a while in numerous Android phones, but Apple is increasing its popularity in America. This could see daily life becoming more streamlined. Pads for NFC should start popping up more, appearing as regularly as they do in other countries, such as South Korea.

Bitcoin

Bitcoin is not an online wallet. It is actually its own currency, which you store online. You exchange your own currency for it, as you do any other. There is an exchange rate that alters depending on economic conditions, as well. It is the same as any other currency out there; though, in some ways, it is radically different.

Bitcoin has no fees, it is simplified, it is everything a currency should be, it is more secure, and it is going strong. Since it is a currency, Apple Pay, Paypal, Google Play, and similar online wallets are not competitors. When looking at Bitcoin’s actual competitors, this is one of the best options on the market. You can even take it with you wherever you go, regardless of the amount you carry. As long as there are people who accept Bitcoin, there are options to use it.